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to fund more spending and it increases the debt?" boehner is getting more cut over the fight over the debt creeling that expires in two months. white house aides think it could backfire, an advisor admitted it would be ugly. telling fox we're about to enter 60 days of nastiness. i'm told the president has not spoken to speaker boehner since last friday when they had the summit of leaders here at the white house. the significance of that is that boehner made absolutely no promise to the president he is going to pass the legislation. let alone even bring it up. bret? >> bret: ed, you know, we talked a little bit about the timeline here. the new congress comes in thursday. at noon. so essentially, this senate bill has an expiration date of thursday at noon. at that point, they have to scrap the effort and start all over again. >> that's right. it's essentially the new fiscal cliff, that deadline. every piece of legislation passed by the house or the senate over the last two years completely expires with this current congress. so you've
to fund more spending and it increases the debt?" boehner is getting more cut over the fight over the debt creeling that expires in two months. white house aides think it could backfire, an advisor admitted it would be ugly. telling fox we're about to enter 60 days of nastiness. i'm told the president has not spoken to speaker boehner since last friday when they had the summit of leaders here at the white house. the significance of that is that boehner made absolutely no promise to the...
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all the spending in afghanistan, a rack, and iran, and nothing was said there. then the democrats had the congress, that everything in obama's first term and had no back on. they just went ahead and let the republicans push them around. they forgot to put them there, as far as the unions, the middle-class. they are not protecting these unions and passing legislation to help them. what is happening is, now you've got what just happened in michigan, right to work. this is not about right to work, it is about busting unions. everyone of those red states have a republican governor who have been pushing this issue and is getting to the point where i think the only thing that will stop all this bickering between parties is term limits. if a president can only serve two terms, then a congressman, senator, can only serve the same amount of terms, and then we will not have this power struggle as far as the republicans against the democrats, because they better do their job because they have a limited amount of time, or they are out. >> mike o'brien of nbc has this week.
all the spending in afghanistan, a rack, and iran, and nothing was said there. then the democrats had the congress, that everything in obama's first term and had no back on. they just went ahead and let the republicans push them around. they forgot to put them there, as far as the unions, the middle-class. they are not protecting these unions and passing legislation to help them. what is happening is, now you've got what just happened in michigan, right to work. this is not about right to work,...
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obama, big spending did, many in the media would have us believe that liberal ideology was confirmed by this election, it was not. however, however, secularism is certainly eroding traditional power, no question about it. those americans who attend religious services at least once a week, voted for romney, 59-39. the religious is on at decline. despite the presidential controversial insistence that some catholic entities provide birth control and after-pills, catholics supported obama 50-48. down from 2008, but still a surprise to some. only about 30% of american catholics now attend weekly mass. you can see the impact of creeping secularism on the religious vote. on paper the stats look hopeless for traditional americans, however, it will take a very special politician to do that. by the way, mitt romney didn't try to marginlize secularism, it's a mistake. the key question going forward is the movement good for american, no matter their ethnic condition, the answer is no, three vivid. secular progressive champion do your own thing philosophy, and the public school system adopted tha
obama, big spending did, many in the media would have us believe that liberal ideology was confirmed by this election, it was not. however, however, secularism is certainly eroding traditional power, no question about it. those americans who attend religious services at least once a week, voted for romney, 59-39. the religious is on at decline. despite the presidential controversial insistence that some catholic entities provide birth control and after-pills, catholics supported obama 50-48....
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in the end obama beat romney by ten points. on the economic values question that was this, which candidate is more in touch with people like you. 53% said romney's policies would favor the rich. just 10% said that about the president's policies. romney, the first republican nominee in the history of our nbc-wall street journal poll to go into his convention with this personal rating under water and in his campaign with a painful number. just 47% of votes viewing him positively. the obama campaign was also able to get more bang for the buck because they bought ads early. >> the obama campaign purchased it way ahead of time. romney bought it the week of. lesson two, the republican brand needs a hard look. the gop's favorable rating has been under water for two years, since december 2010, and, in fact, if you take that out, it's been nearly five years. in our final poll, full poll before the election, just 36% of registered voters said they had a positive view of the republican party, 43% held a negative view. the democratic party
in the end obama beat romney by ten points. on the economic values question that was this, which candidate is more in touch with people like you. 53% said romney's policies would favor the rich. just 10% said that about the president's policies. romney, the first republican nominee in the history of our nbc-wall street journal poll to go into his convention with this personal rating under water and in his campaign with a painful number. just 47% of votes viewing him positively. the obama...
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one way to get the government to spend less is to spend more to stimulate the economy. what obama was trying is serious stimulus to boost the economy. if you think of the federal government that is someone that has to balance its books, that is the obama approach and i think it is a good one. host: lesley from missouri. caller: i helped barack obama become elected. i notice the nation is not behind him. they are not making the money that people at the top are making. when the people at the top try to negotiate will happen for the people at the bottom, there will be a constant setback of growth. when you have politicians not taking care of business, you have more outgrowth then you have income. right now our country has more outgrowth then income. if you don't have that overhead, you end up losing what you have. host: george zornick. guest: a lot of people like to talk about world aid. you could look at the defense budget. many liberals have tried to do that. it appears the defense sequester will be avoided. it is kind of tricky. it is an across-the-board cut. you have t
one way to get the government to spend less is to spend more to stimulate the economy. what obama was trying is serious stimulus to boost the economy. if you think of the federal government that is someone that has to balance its books, that is the obama approach and i think it is a good one. host: lesley from missouri. caller: i helped barack obama become elected. i notice the nation is not behind him. they are not making the money that people at the top are making. when the people at the top...
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>> well, i think that opportunity was missed in the boehner/obama negotiations. there really was no time to do anything except the basics right now. and i think there's a good shot that this will succeed. i think both parties are very conscious of the markets opening tomorrow and the republicans have been through situations where they've voted down big plans and the markets have crashed. so i don't think that john boehner wants that on his head and i think that president obama's planning to blame him if that happens. there as lot of work being done to convince some liberal democrats and conservative republicans, because republicans in voting for this would have to vote for a tax rate increase which a lot of them have signed pledges saying they would never do. it's a big step but i think they'll take it. >> david, looking at house speaker john boehner a lot of people thought he ended up looking bad when that plan b failed. does he have the votes for this and/or could his speakership be in trouble? >> i don't know that his speakership is in trouble. during a year a
>> well, i think that opportunity was missed in the boehner/obama negotiations. there really was no time to do anything except the basics right now. and i think there's a good shot that this will succeed. i think both parties are very conscious of the markets opening tomorrow and the republicans have been through situations where they've voted down big plans and the markets have crashed. so i don't think that john boehner wants that on his head and i think that president obama's planning...
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obama said he'd have preferred a bigger deal that included spending cuts. >> a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way, that doesn't just deal with the taxes, but deals with the spending in a balanced way so that we can put all this behind us and just focusing on growing our economy. >> reporter: the president said with this conference, by which he meant this partisan conference, that's too much to hope for. early this morning after the senate vote he released a statement that read in part, this agreement is the right thing to do for our country, and the house should pass it without delay. we'll wait and see if that actually happens today, rick. rick: okay. so if republicans compromised on spending cuts and tax hikes for the wealthiest, what did the president give up? >> reporter: well, his compromise was in raising the income level protected from tax hikes from 250 to $450,000 a year for families, and more importantly, making the tax cuts permanent. that is something president bush wasn't able to do back in the ea
obama said he'd have preferred a bigger deal that included spending cuts. >> a grand bargain, whatever you want to call it, that solves our deficit problems in a balanced and responsible way, that doesn't just deal with the taxes, but deals with the spending in a balanced way so that we can put all this behind us and just focusing on growing our economy. >> reporter: the president said with this conference, by which he meant this partisan conference, that's too much to hope for....
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president obama asking the house to pass it without delay. nancy cordes is on capitol hill this morning. good morning to you. >> reporter: good morning, terrell. technically we did go over the fiscal cliff at midnight this morning, but that is likely to be temporary if the house votes in favor of that bill later today. the senate as you mentioned, voted overwhelmingly around 2:00 in the morning by a vote of 89-8, almost all democrats and republicans voting yes on a deal that would make permanent the bush era tax cuts for people earning up to $400,000 a year and couples earning up to $450,000 a year. this was a deal that was worked out by vice president biden and senate leaders. the house speaker hasn't said that the house will definitely vote in favor of it today, but democrats at least are saying they expect almost all of their members to vote yes. terrell. >> nancy cordes on capitol hill. thank you so much. >>> secretary of state hillary clinton spent new year's eve in the hospital being treated for a blood clot in her skull. margaret brenn
president obama asking the house to pass it without delay. nancy cordes is on capitol hill this morning. good morning to you. >> reporter: good morning, terrell. technically we did go over the fiscal cliff at midnight this morning, but that is likely to be temporary if the house votes in favor of that bill later today. the senate as you mentioned, voted overwhelmingly around 2:00 in the morning by a vote of 89-8, almost all democrats and republicans voting yes on a deal that would make...
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it's just disgusting. >> reporter: president obama wanted to dole with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. now, the house reconvenes at midday but lawmakers say, frank, they plan to study this bill hard before they take a vote. they say the senate has had months to get a bill passed and they are not going to rush to get anything done. >> there is word, tara, that some republican lawmakers are upset about something the president said. could that effect support of the bill? >> reporter: it might. president obama chastised in his speech congress for taking too long to get the deal done. but he also threw something out at republicans saying if they think that spending cuts is the only thing that's going to reduce the deficit, they have another thing coming and that basically references the $16.5 trillion in debt which is the next issue on the table. a lot of republicans were offended and it could antagonize enough o
it's just disgusting. >> reporter: president obama wanted to dole with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. now, the house reconvenes at midday but lawmakers say, frank, they plan to study this bill hard before they take a vote. they say the senate has had months to get a bill passed and they are not...
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that we're not where we need to be on revenue is disgusting. >> reporter: president obama wanted a bargain that dealt with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. and the house reconvenes by midday today. a vote could also come today. >> tara, a lot of republicans weren't happy with the president's speech yesterday. is there any indication that that could affect the vote in the house? >> well, president obama during that speech criticized congress for taking too long to come up with this deal. he also laid the groundwork for another problem that's coming and that's basically burrough -- upping the country's burrough limit. republicans will no doubt try to use upping that in ex-kang for spending cuts. and to which the president said, they have another thing coming if they think that's going to be the case. spending cuts alone are not going to be able to reduce the country's deficit. so we have that coming. senator john mc
that we're not where we need to be on revenue is disgusting. >> reporter: president obama wanted a bargain that dealt with taxes and spending cuts at the same time. >> but with this congress, that was obviously a little too much to hope for at this time. >> reporter: house speaker john boehner has not yet publicly endorsed the deal. and the house reconvenes by midday today. a vote could also come today. >> tara, a lot of republicans weren't happy with the president's...
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now president obama is calling on the house to pass the bill without delay. the bill stops most of the tax hikes and spending cuts that were to kick in at midnight. tara mergener is in washington with more this morning. tara, good morning to you. >> reporter: good morning, terrell. well, a deal is now on the books to avert some of the impact of the fiscal cliff which technically we have gone over. now it is up to the house. in the early morning hours of new year's day, the senate began voting on a bill to avoid the so-called fiscal cliff. >> the bill as amended is passed. >> reporter: the senate voted 89-8 to avoid tax hikes for 99% of all americans. >> this shouldn't be the model for how we do things around here. but i think we can say we've done some good for the country. >> r if the bill eventually becomes law, the bush era tax cuts will be permanently extended for everyone making less than $400,000 a year. and families making less than $450,000 a year. it will also keep the alternative minimum tax for the wealthy from hitting millions of middle-class fami
now president obama is calling on the house to pass the bill without delay. the bill stops most of the tax hikes and spending cuts that were to kick in at midnight. tara mergener is in washington with more this morning. tara, good morning to you. >> reporter: good morning, terrell. well, a deal is now on the books to avert some of the impact of the fiscal cliff which technically we have gone over. now it is up to the house. in the early morning hours of new year's day, the senate began...
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the people voted obama back in. host: the minority leader, mitch mcconnell, has been negotiating with the vice president joe biden to come to some sort of agreement. what you make of that? caller: i'm talking about what mitch mcconnell said in the beginning. he did not want to work with this president. the want it to see him fail. they're hurting the american people by not helping obama. obama is good for the country, but people that listen to rush limbaugh, sarah palin, and fox news, that is why this country is going down like this. host: let me get your thoughts on president obama as a negotiator. what do you think? caller: he has reached out and showed an olive branch dejon banner ever since he has been in. -- john boehner ever since he has been in. president obama has tried to work with these people to get things done, and they will not work with him. host: let's hear from ron in appleton, wisconsin. caller: i woke up this morning, and i am an engineer, an african-american. i have been blessed with a good income
the people voted obama back in. host: the minority leader, mitch mcconnell, has been negotiating with the vice president joe biden to come to some sort of agreement. what you make of that? caller: i'm talking about what mitch mcconnell said in the beginning. he did not want to work with this president. the want it to see him fail. they're hurting the american people by not helping obama. obama is good for the country, but people that listen to rush limbaugh, sarah palin, and fox news, that is...
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has president obama showed when his back support against the wall, he will cave? >> the president has been very strong in these negotiations. you have to keep in mind the republicans really did not want to tax more wealthy people in our society one dime. not a dime, and he's stuck with that. i consider myself a liberal and proud of it. we did not want an increase in t the age with regard to medicaid and cpi with regard to social security benefits. and the president was strong there, and i think he'll continue to be strong, and, you know, i notice a different president since he won this election, i think he is working very closely with congress, and, again, i -- often i'm -- i'm critical for congress for not coming to the table and compromising. critical for trends for saying my way or the highway. but at some point, we've got to take care of a lot of people like folks in my district, who through this deal will at least be able to get unemployment benefits, and a number of others that mean something to middle class families. >> are we setting up ourselves for fight
has president obama showed when his back support against the wall, he will cave? >> the president has been very strong in these negotiations. you have to keep in mind the republicans really did not want to tax more wealthy people in our society one dime. not a dime, and he's stuck with that. i consider myself a liberal and proud of it. we did not want an increase in t the age with regard to medicaid and cpi with regard to social security benefits. and the president was strong there, and i...
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refuses to concede that social security, medicare, medicaid are driving future spending and deficits. so when republicans make concessions on taxes they get little in return." are you set up for more confrontatio confrontation. >> i think we are set up for more confrontatioconfrontation. on september 30th, when the clock strikes, we'll be in the same position. the president has made concessions, put on the table reforms to the entitlement program. last year, we were close to a grand bargain. $4 trillion deficit reduction that would include major entitlement reforms. the president has done what he needs to do that's unfair criticism. >> what is lacking, congressman? what is the problem? it is a popular con serb tuf and -- conservative reefrain. where is the impasse in terms of being able to say here are what our priorities are as a party. >> the reason there hasn't been a budget since 2009 because of the filibuster rule in the house. the house under both democratic and republic lay can leadership been able to pass things. we haven't had the ability to come together. this wasn't necess
refuses to concede that social security, medicare, medicaid are driving future spending and deficits. so when republicans make concessions on taxes they get little in return." are you set up for more confrontatio confrontation. >> i think we are set up for more confrontatioconfrontation. on september 30th, when the clock strikes, we'll be in the same position. the president has made concessions, put on the table reforms to the entitlement program. last year, we were close to a grand...
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but the other big obama prize is no spending cuts. i mean, a few republicans are going to give in on this position you have held for decades, what are you going to get in return for? remember that great "wall street journal" article where john boehner says, i'm putting all this revenue on the table. what am i going to get? barak obama says, you get nothing. i get it for free. that's what happened. >> brian: that's what happened so far. it's amazing because if the president actually wanted to balance the budget, he would be doing cuts. it doesn't seem like he's playing for the same goal as the average american, politics aside. >> we have one side that wants higher taxes and one side that wants lower spending. they're banging into each other. >> brian: thanks for coming in. >> thank you. >> steve: happy new year. >> brian: straight ahead, president obama wanted congress to get raises. but most americans think they're doing a very bad job. will lawmakers see more money in their paychecks? there is an update. >> steve: kind of a diplomay
but the other big obama prize is no spending cuts. i mean, a few republicans are going to give in on this position you have held for decades, what are you going to get in return for? remember that great "wall street journal" article where john boehner says, i'm putting all this revenue on the table. what am i going to get? barak obama says, you get nothing. i get it for free. that's what happened. >> brian: that's what happened so far. it's amazing because if the president...
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president obama outlined that yesterday. these tax hikes are not enough for him. that he's going to go after more tax hikes. it's going to be the same discussion. the fact is we're just ceding more and more ground and more and more jobs, by the way, that young people need. so that's one of the things where i think house republicans get it, where at least i mean the majority of our caucus gets it where we're going to stand up against this plan because it's bad for young people, bad for our future, it's bad for the rest of america too. there was a great article in "the washington times" yesterday about why this plan and why plans like this are going to absolutely hurt and bankrupt our generation. i think there's at least a core group of republicans who are actually going to defend that and try to get a real solution done. something that addresses entitlement reform, that doesn't just tax people. this is a tax bill. this just raises taxes. and that's all it's doing. and the fact of the matter is grover norquist, this just shows how little power grover has. grover is
president obama outlined that yesterday. these tax hikes are not enough for him. that he's going to go after more tax hikes. it's going to be the same discussion. the fact is we're just ceding more and more ground and more and more jobs, by the way, that young people need. so that's one of the things where i think house republicans get it, where at least i mean the majority of our caucus gets it where we're going to stand up against this plan because it's bad for young people, bad for our...
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another spending battle is also brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the $16.4 trillion borrowing limit. yesterday it stopped issuing new debt for two government retirement funds. that won't impact current retirees. treasury secretary timothy geithner announced last week that his department will adopt measures to save about $200 billion. that's going to keep the government from reaching its limit for about two months. >>> we've also got much more information coming ahead in the next few hours on this deal right here on news4 today. again on news 4 at 5:00 and at 11:00. you can also read about it by going to nbcwashington.com. >>> today is the day some couples in maryland thought would never come. same-sex marriage became legal at the stroke of midnight and it's exactly how some couples decided to bring in the new year. sabrina and natasha of frederick exchanged vows the minute same-sex marriage became legal at midnight. maryland voters approved same-sex m
another spending battle is also brewing on capitol hill. the government is close to reaching its debt limit. the treasury is taking steps to delay reaching the $16.4 trillion borrowing limit. yesterday it stopped issuing new debt for two government retirement funds. that won't impact current retirees. treasury secretary timothy geithner announced last week that his department will adopt measures to save about $200 billion. that's going to keep the government from reaching its limit for about...
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>> we really think that president obama won the campaign in the spring. and what is key is in the west wing, in late may his advisors basically told him we want to spend the fall's budget right now, on a really tough tv assault against romney. and the president had to be convinced by the advisors to do this, and obviously he was thinking financially are we going to have that money in the fall or spend it now it was a risk but one that ultimately paid off for president obama. governor romney at that point was still trying to put together the pieces for his primary just ended. >> why didn't he respond? why didn't they refute the attacks about bain capitol? >> one of the issues was governor romney was just not willing to lend himself money as he was in 2008. there was a perception among his senior staff that he didn't want to be seen as buying the election. so in order for him to have gone toe-to-toe with obama at that point in time he would have had to use his own money and that wasn't even broached in the campaign. >> warner: one of the most fascinating th
>> we really think that president obama won the campaign in the spring. and what is key is in the west wing, in late may his advisors basically told him we want to spend the fall's budget right now, on a really tough tv assault against romney. and the president had to be convinced by the advisors to do this, and obviously he was thinking financially are we going to have that money in the fall or spend it now it was a risk but one that ultimately paid off for president obama. governor...
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although the deadline has passed, congress can still deal with the impact of spending cuts and tax increases that were set to go into effect on january 1. congressional leaders say they want to send legislation to president obama within a day or two, so consumers should not notice any impact. again, that from the associated press. and now, we talk to a reporter on capitol hill about the actions so far by senate democrats in reaching an agreement. todd is from the takeaway. hours before the deadline, democrats announced a scaled- down version to avoid the so- called fiscal cliff. what are some of the key items in the deal? >> the most important items people will be paying attention to are the income tax rates. you are looking at a tax increase on individuals making more than $400,000 and individuals and families making more than $450,000. president obama campaigned on 250 thousand dollars, and they are redefining what is middle class. now, someone who makes $300,000, that person is middle class, too, but that is fiscal cliff politics. you have the marginal rates. there are going to be some ch
although the deadline has passed, congress can still deal with the impact of spending cuts and tax increases that were set to go into effect on january 1. congressional leaders say they want to send legislation to president obama within a day or two, so consumers should not notice any impact. again, that from the associated press. and now, we talk to a reporter on capitol hill about the actions so far by senate democrats in reaching an agreement. todd is from the takeaway. hours before the...
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we've also learned that president obama personally called harry reid and nancy pelosi to ensure that they are on board with this plan. our chuck todd says it is not likely that we would see a deal on that vote before midnight, just on the logistical standpoint the house remains adjourned until tomorrow. mike, what is the latest you're hearing about a possible vote tonight, maybe not before midnight at this point, but sometime during the night? >> yeah, i don't think it will happen before midnight, just too many procedural hoops to jump through, and they haven't even completed writing the bill. vice president joe biden arrived, met with harry reid briefly, and walked into the second floor and into the caucus room where democrats had gathered. joe biden's mention to pitch this deal, to the caucus, one mention, if they're going to bring it up tonight. we talked about the senate and how slow it moves. it can move very fast, when they have unanimous consent, in other words, where every senator says it is okay to move forward. that will be the trick. there will be a lot of senators with a
we've also learned that president obama personally called harry reid and nancy pelosi to ensure that they are on board with this plan. our chuck todd says it is not likely that we would see a deal on that vote before midnight, just on the logistical standpoint the house remains adjourned until tomorrow. mike, what is the latest you're hearing about a possible vote tonight, maybe not before midnight at this point, but sometime during the night? >> yeah, i don't think it will happen before...
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obama wants one thing and mr. boehner once anothesee and we will see a knockdown drag out fight any big dramatic of negotiation. what you and i and all americans are looking at is the prospect of a recession next year if thed president and mr. boehner can't come to agreement. as much as a 10% unemploymenttyn rate, because both as president and republican parties parties, as you can seema here, they aret playing at the margin in thecust national media is not focusing washit the reality is. they are just playing games. right along th the folks in washington. this president is guilty of class warfare. for hat? are you kidding me?ma. prident obama seems to love reat the drama. i thought he didn't like drama. the reality is that there will be so little impact on our fiscal future. the after all of the drama and whateeer the outcome, we remaih in great jeopardy. because this isn't a fiscals. future. this is not something that any of us want. don't you love it? a lame-duck session of congress. they areon the ones who hav
obama wants one thing and mr. boehner once anothesee and we will see a knockdown drag out fight any big dramatic of negotiation. what you and i and all americans are looking at is the prospect of a recession next year if thed president and mr. boehner can't come to agreement. as much as a 10% unemploymenttyn rate, because both as president and republican parties parties, as you can seema here, they aret playing at the margin in thecust national media is not focusing washit the reality is. they...
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mike mentioned ed that the house, a lot of them got reelected, a lot got elected to spending not the raise taxes. the house is still controlled by republicans so when president obama has his talk about campaigning and run and getting a mandate on raising taxes on the upper tier, these republicans fight back with their own o individual races. >> no doubt about it. and that is why we had this clash. you will remember that right after the election i remember full well that these negotiations which started with the president and speaker boehner, they are are ending now with senator mcconnell and vice president biden but within days aft election speaker boehner sent a letter to the president of the united states saying we just had a status quo election. that was from the speaker. inside the white house they didn't believe it was a status quo election. they believe the president won decisively and did get the mandate. house republicans believe they had a mandate to cut spending and the president believed he had a mandate to raise taxes. they will have the same clash two months from now. no
mike mentioned ed that the house, a lot of them got reelected, a lot got elected to spending not the raise taxes. the house is still controlled by republicans so when president obama has his talk about campaigning and run and getting a mandate on raising taxes on the upper tier, these republicans fight back with their own o individual races. >> no doubt about it. and that is why we had this clash. you will remember that right after the election i remember full well that these negotiations...
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that is the level that president obama campaigned on. he said folks who make $250,000 or more should pay more in taxes. richard trumka expressing concern tonight that this will ultimately wind up taking a larger cut into spending than democrats will be comfortable with. so that is some of the criticism on the left. i imagine vice president biden have l have to answer some questions about that when he heads over to the hill. but as kelly mentioned, he has been one of the key negotiators in this entire process. remember, on saturday, milissa, these negotiations had all but stalled. and that is the point at which minority leader mcconnell picked up the phone, called biden, asked him to engage in these negotiations. he did. he is of course a veteran of the senate. few people understand how the inner works of the senate work as well as vice president biden. so he gotten gauged in these negotiations, really helped them to move forward. remember, he also has a very strong work relationship with mitch mcconnell. the two served together for about
that is the level that president obama campaigned on. he said folks who make $250,000 or more should pay more in taxes. richard trumka expressing concern tonight that this will ultimately wind up taking a larger cut into spending than democrats will be comfortable with. so that is some of the criticism on the left. i imagine vice president biden have l have to answer some questions about that when he heads over to the hill. but as kelly mentioned, he has been one of the key negotiators in this...
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in the first term he had to pretend he cared about spending and debt. in fact, when he sold obama care, if you remember the first speech, he said this is a way to deal with our debt. the main driver of debt is healthcare costs and what i'm going to do is going to cure the problem. that's how he sold it i don't think he believed it then. i'm not sure he believes it now. >> just such a good segway because you don't even know that i have these things in my back pocket. [ laughter ] and because i didn't brief you before. >> this is like abbot and costello. >> bret: it really is. we'll end 2012. >> he have been doing the gig for so long don't have to communicate. >> bret: listen to the president talk about entitlements and when he talking to republicans. >> the major driver of our long-term liabilities, everybody here knows is medicare and medicaid and our healthcare spending. nothing comes close. social security we could probably fix the same way tipp o'neal and ronald reagan sat down together and they could figure something out, that is manageable. medicar
in the first term he had to pretend he cared about spending and debt. in fact, when he sold obama care, if you remember the first speech, he said this is a way to deal with our debt. the main driver of debt is healthcare costs and what i'm going to do is going to cure the problem. that's how he sold it i don't think he believed it then. i'm not sure he believes it now. >> just such a good segway because you don't even know that i have these things in my back pocket. [ laughter ] and...
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the obama plan, to the speakersi boehner plan, it will either o alter the rising rate of spending were less than the science of our bloated government. the answer in tonight "chalk [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. ro price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing. lou: you know, everybody's getting pretty excited about that fiscal cliff negotiation or impasse, however you want to3 style it. mayi want t showu, lou: everybody is getting re ofed about the fiscal clifft, negotiation. i thoughtht i would show you wht thuld happen if we change into thspeaker boehner plan, the president obama plan, let's start out with the do-nothing plan because that's the plan we0 hav
the obama plan, to the speakersi boehner plan, it will either o alter the rising rate of spending were less than the science of our bloated government. the answer in tonight "chalk [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their...
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now, president obama and the senate republican leaders say they are close to a deal to prevent tax hikes on the middle class. the trouble is, the house has gone home and won't be voting on anything tonight. >> for now, our most immediate priority is to stop taxes going up for middle class families starting tomorrow. i think that is a modest goal that we can accomplish. >> we all want to protect taxpayers, and we can get it done now. right now. >> trace: officials tell fox news agreement would let tax cuts expire on $450,000 instead of the president's cut off $250,000. extend unemployment benefits for another year it does not include any new spending cuts. of course, that's the other big issue in this fiscal cliff standoff. we have team fox coverage. mike emanuel is live on capitol hill. but first to ed henry at the white house. ed, it looks as if we are taking the plunge. >> it does, trace. but what i think the white house is hoping here tonight is that lawmakers are going to have some framework by midnight tonight that basically says votes as soon as tomorrow or maybe even in early wee
now, president obama and the senate republican leaders say they are close to a deal to prevent tax hikes on the middle class. the trouble is, the house has gone home and won't be voting on anything tonight. >> for now, our most immediate priority is to stop taxes going up for middle class families starting tomorrow. i think that is a modest goal that we can accomplish. >> we all want to protect taxpayers, and we can get it done now. right now. >> trace: officials tell fox news...
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>> we really think that president obama won the campaign in the spring. and what is key is in the west wing, in late may his advisors basically told him we want to spend the fall's budget right now on a really tough tv assault against romney. and the president had to be convinced by the advisors to do this, and obviously he was thinking financially are we going to have that money in the fall or spend it now it was a risk but one that ultimately paid off for president obama. governor romney at that point was still trying to put together the pieces for his primary just ended. >> why didn't he respond? why didn't they refute the attacks about bain capitol? >> one of the issues was governor romney was just not willing to lend himself money as he was in 2008. there was a perception among his senior staff that he didn't want to be seen as buying the election. so in order for him to have gone toe-to-toe with obama at that point in time he would have had to use his own money and that wasn't even broached in the campaign. >> warner: one of the most fascinating thi
>> we really think that president obama won the campaign in the spring. and what is key is in the west wing, in late may his advisors basically told him we want to spend the fall's budget right now on a really tough tv assault against romney. and the president had to be convinced by the advisors to do this, and obviously he was thinking financially are we going to have that money in the fall or spend it now it was a risk but one that ultimately paid off for president obama. governor...
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obama doesn't -- obama believes in stimulating the economy through spending. he doesn't believe in making all the cuts. so again, like you are asking him to adopt a world view he doesn't have. >> bret: even though he talked about it many times. >> he does talk about it. >> expounding upon it. fixing social security and medicare. >> anybody who reads paul krugman, grand pubah of economics on the left his worry that the deficit will be reduced too fast. i'm not endorsing this from a policy perspective. i'm telling grow a political perspective this is the situation with the president. so to say he should want cuts that the republicans want is to ask him to adopt a philosophy he doesn't have. i'd say if i was a republican, i would be bothered by republican party not being more specific and holding his feet to fire on it. >> bret: the senate democratic caucus could slip a the white house is saying that the vice president heading up there the time is not firm. >> so we'll be here. >> bret: we'll be here covering it for you. >> big night. >> bret: the countdown to vi
obama doesn't -- obama believes in stimulating the economy through spending. he doesn't believe in making all the cuts. so again, like you are asking him to adopt a world view he doesn't have. >> bret: even though he talked about it many times. >> he does talk about it. >> expounding upon it. fixing social security and medicare. >> anybody who reads paul krugman, grand pubah of economics on the left his worry that the deficit will be reduced too fast. i'm not endorsing...
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president obama continues his secret drone wars. we spend the hour looking back at the moment and movements that shaped 2012. >> democratic congresswoman gabrielle giffords has announced she will step down this week. she was shot in the head last year in a shooting spree that left six people dead in tucson. >> thank you for your prayers and for giving me the time to recover. i have more work to do on my recovery, so i will do what is best for arizona. i will step down this week. >> iraqis are voicing outrage over the sentencing of the last marines charged in the 2005 massacre of 25 civilians. on tuesday, frank woodrich received no jail time. >> i was expecting the american courts would sentence the person to life in prison. he should appear and confessed to the world that he committed these crimes so that america could show itself as democratic and fair. >> in a dramatic scene yesterday on capitol hill, several democrats walked out of congressional hearings on the contraception rule. carol maloney of new york criticized the panel at
president obama continues his secret drone wars. we spend the hour looking back at the moment and movements that shaped 2012. >> democratic congresswoman gabrielle giffords has announced she will step down this week. she was shot in the head last year in a shooting spree that left six people dead in tucson. >> thank you for your prayers and for giving me the time to recover. i have more work to do on my recovery, so i will do what is best for arizona. i will step down this week....
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president barack obama and senate republican leader mitch mcconnell said on monday that they are near a deal to avoid it wide-ranging tax increases and spending cuts set to take effect in the new year. house republicans notified lawmakers that the chamber will vote tonight, but they will be voting on other bills and they will be the only votes of the day. they say it is still not clear if the senate will be able to vote on any kind of deal. >> still ahead, new details emerging about former state delegate tiffany alston. the telestrating head. >> deal or no deal. the clock ticks down to the fiscal cliff deadline. a look at where things stand, coming up. [ female announcer ] the one for all. mcdonald's dollar menu. home of the mouthwatering grilled onion cheddar burger, topped with melty white cheddar and caramelized onions. plus all your tasty favorites for just a dollar each. ♪ every day, as always, there's a lot to love for a little on mcdonald's dollar menu. ♪ >> former state delegate has yet to comment tonight about a report that she has declared bankruptcy. according to the pa
president barack obama and senate republican leader mitch mcconnell said on monday that they are near a deal to avoid it wide-ranging tax increases and spending cuts set to take effect in the new year. house republicans notified lawmakers that the chamber will vote tonight, but they will be voting on other bills and they will be the only votes of the day. they say it is still not clear if the senate will be able to vote on any kind of deal. >> still ahead, new details emerging about...
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that's what obama and boehner were talking about, how to get to that split. and they just couldn't agree. and republicans kept saying to democrats, let's see your spending cuts, where are they and democrats said, if you want to cut social security and medicare, you tell us how you want to do it. the people like the idea of spending cuts but when you get down to the specifics, not very popular. so, it just wound up only on the tax issue, which is making republicans unhappy. >> let's talk about the republican party and now unified they are. we certainly saw boehner's plan b fail but might have just been some political positioning. as we go into the debt ceiling, do they have a unified approach or could we see that party splinter apart? >> they have a tea party caucus who wants to see a debt ceiling increase without really serious spending cuts. they want to see on the order of a trillion dollars more in spending cuts in order for any increase to have, you know, any impact. you're going to see a real problem there in the republican car us can to get a debt ceili
that's what obama and boehner were talking about, how to get to that split. and they just couldn't agree. and republicans kept saying to democrats, let's see your spending cuts, where are they and democrats said, if you want to cut social security and medicare, you tell us how you want to do it. the people like the idea of spending cuts but when you get down to the specifics, not very popular. so, it just wound up only on the tax issue, which is making republicans unhappy. >> let's talk...
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obama's comments angered republicans. so i think they're back in the negotiating room, republicans pushing harder on the spending cuts side. that's what we've seen through the the day. >> ali, based on my years of covering washington, the longer there's no final vote in the senate and house, the more likely this whole thing could collapse. >> yeah. gives everybody a chance to think it through. this is kind of the contradiction in this whole thing. when you think back to the debt ceiling deal, you think back to the government shutdown. these are all eleventh hour deals. we've become accustomed to doing things before the deadline. there's some sense of urgency. what you've heard throughout the day is we don't like that the white house, that they're moving toward a higher threshold on taxes. the longer it doesn't get done, the more people say let's take a harder line yet. i like you wolf, we're going to sit here until it happens. i'm not sure it's going to happen. there are still some remarkable philosophical differences. a
obama's comments angered republicans. so i think they're back in the negotiating room, republicans pushing harder on the spending cuts side. that's what we've seen through the the day. >> ali, based on my years of covering washington, the longer there's no final vote in the senate and house, the more likely this whole thing could collapse. >> yeah. gives everybody a chance to think it through. this is kind of the contradiction in this whole thing. when you think back to the debt...
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we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace: traders on wall street are watching the president's comments. the chance of going over the cliff may not look great but the dow is up for the time being. we have fox coverage with wendell at the white house. but, first, mike is live on capitol hill. the senate leader is the -- actually, the minority leader, what is he telling colleagues? >>reporter: he said they are very, very close. he would like to take action to avoid having americans suffer a huge tax increase in a matter of ten hours. there are a lot of anxious senators walking around wondering if or when they will get a chance to vote on something. at 1:19 senator mcconnell sent this e-mail to the colleagues
we have learned lawmakers are still working out the automatic spending cuts. president obama weighs in saying middle class families can not get caught in the middle. >> the last thing folks like the folks up here on this stage can afford right now is to pay an extra $2,000 in taxes next year. middle-class families can not afford it, businesses cannot afford it, our economy can not afford it. >>trace: traders on wall street are watching the president's comments. the chance of going...
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if that's part of it and obama looking for at least some infrastructure, some stimulus spending. are any of those components in this deal? >> i don't think the spending part is addressed. i could be wrong and i believe per child tax credit is, in fact, addressed and extended in some way, shape or form and heard the president say some of the incentives for green energy in place in the stimulus. as well. i'm not sure if i heard you mention the alternative minimum tax for the wealthy and dipped in to the middle class and every year congress has to put it off. what's in this bill is a permanent revocation, a perm inconsistent fix, if you will, of the alternative men mum tax. that's astonishing. almost a trillion dollars cut from the baseline over ten years and appears that would be in the bill but put out the big caution here because nothing is voted on yet. there's no -- the ink is not dry. the signatures not on the document. if there's a deal, it is still not quite there yet. that big fight as we have been describing over those spending cuts, automatic spending cuts over ten years.
if that's part of it and obama looking for at least some infrastructure, some stimulus spending. are any of those components in this deal? >> i don't think the spending part is addressed. i could be wrong and i believe per child tax credit is, in fact, addressed and extended in some way, shape or form and heard the president say some of the incentives for green energy in place in the stimulus. as well. i'm not sure if i heard you mention the alternative minimum tax for the wealthy and...
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you heard president obama concede this is not a perfect deal. he said he wanted a big deal that dealt with both tax reform and deficit reduction. you also heard him talk about the fact that the new revenues would be hundreds of billions of dollars. what he initially wanted was about $1.6 trillion so this is a compromise on his part, as well. republicans initially coming, raising their offer so they kind of came to the middle on that point. but, again, the one sticking point that remains, the sequester and what negotiators continue to hammer out. vice president biden playing a key role in the negotiations having served more than 30 years in the senate. he knows how these types of negotiations get done. really, better than anyone. he, mitch mcconnell with whom he has a strong relationship, trying to take it to the finish line. >> i guess that's something given how many sticking points we were up against before. thank you so much. >> reporter: thanks. >> any deal from the 11th hour talks will be rushed through both chambers of congress. mike viquei
you heard president obama concede this is not a perfect deal. he said he wanted a big deal that dealt with both tax reform and deficit reduction. you also heard him talk about the fact that the new revenues would be hundreds of billions of dollars. what he initially wanted was about $1.6 trillion so this is a compromise on his part, as well. republicans initially coming, raising their offer so they kind of came to the middle on that point. but, again, the one sticking point that remains, the...
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under president bush and president obama. and i think republicans ask for less than they should have, we're going to have to ask for more in the way of spending cuts because once we do this very small, large increase on the wealthy, but small amount of revenue, we have to come back again. and i think the middle class has to understand that you can only get so much from the rich when they're already going to be paying over 55% on their ordinary income come next year, at least in my state of california. there is going to be a limit how much you can do. ultimately all taxes end up being paid disproportionately for the middle class. >> are you going to vote for this? >> i haven't seen the bill yet. >> would you vote for tax increases or tax cuts up to 450,000? >> i said aultimately i'll finda way to support something to bring to the american people. i think this bill will have too few cuts and will depend on a small amount of people that candidly don't represent enough money to bring a real fix to our trillion dollar deficit. >>
under president bush and president obama. and i think republicans ask for less than they should have, we're going to have to ask for more in the way of spending cuts because once we do this very small, large increase on the wealthy, but small amount of revenue, we have to come back again. and i think the middle class has to understand that you can only get so much from the rich when they're already going to be paying over 55% on their ordinary income come next year, at least in my state of...
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we're not just doing on the spending side anymore but clearly an obama optimistic about this deal. its chances and what it means for the white house. that does it for this edition of "andrea mitchell reports." happy new year, everyone. "news nation" is next. >>> hello there, i'm t.j. holmes. president obama speaking just moments ago and putting the pressure on. with just ten hours until the country goes over that fiscal cliff, the president announcing that agreement to prevent tax hikes for all americans is in sight. but there is no deal just yet. >> today it appears that an agreement to prevent this new year's tax
we're not just doing on the spending side anymore but clearly an obama optimistic about this deal. its chances and what it means for the white house. that does it for this edition of "andrea mitchell reports." happy new year, everyone. "news nation" is next. >>> hello there, i'm t.j. holmes. president obama speaking just moments ago and putting the pressure on. with just ten hours until the country goes over that fiscal cliff, the president announcing that agreement...
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sikh that was president obama sharing his thoughts on the debate over cutting federal spending. while there were reports of significant progress a short time ago. there is concern from republicans that they are giving the president the tax hikes he requested without getting spending breaks in return at a time when the federal deficits are running a trillion a year. the president talks about a balanced solution. we'll update as we hear more from the nation's capital. arthel: while the president blames congress for the problems in washington. a georgetown law professor says our problems start our constitution and announces we need a new form of government. i'm going to start with dee dee on this. i'm a big fan of hdtv. do we need to make over the constitution? >> let's get rid of the one thing holding us all together. washington is broken, obviously we have problems. is this guy crazy? i'll call him louie. dose want a monarchy. i think he should take a sabbatical to cuba or saudi arabia where there is no constitution. the constitution protects this guy. >> the professor argued why
sikh that was president obama sharing his thoughts on the debate over cutting federal spending. while there were reports of significant progress a short time ago. there is concern from republicans that they are giving the president the tax hikes he requested without getting spending breaks in return at a time when the federal deficits are running a trillion a year. the president talks about a balanced solution. we'll update as we hear more from the nation's capital. arthel: while the president...
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tax hikes and spending cuts. president obama said to speak in about 30 minutes from now. shibani: stocks are holding their ground. waiting for some sort of news out of washington. the dow sitting at session highs. at least we are closing. ashley: it changes with every headline. the world ringing in the new year. new zealand, australia, japan, china, we will get a sneak preview of celebrations being planned as times square gets prepared for 1 million visitors. it is a complete nightmare. [ laughter ] ashley: time now for stocks now as we do every 15 minutes. we are up 51 points. not too bad on this last trading day of the year. >> that is right. the dow has been pretty flat. going back and forth between the red and green. the nasdaq is up 30. same goes for the s&p stock of about nine points. we are also watching a settlement between u.s. regulators and about a dozen banks. sources tell the "new york times" that 14 banks include tank of america, wells fargo and jpmorgan chase. we are taking a look at those stocks. back to you. ashley: diane, thank you very much. well, the q
tax hikes and spending cuts. president obama said to speak in about 30 minutes from now. shibani: stocks are holding their ground. waiting for some sort of news out of washington. the dow sitting at session highs. at least we are closing. ashley: it changes with every headline. the world ringing in the new year. new zealand, australia, japan, china, we will get a sneak preview of celebrations being planned as times square gets prepared for 1 million visitors. it is a complete nightmare. [...
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. >> president obama will have be to willing to spend a long time on this, and all -- probably all of his political capital and just it's going to be a slog. that was what we got from "meet the press" yesterday. it's just clear he knows this is going to be a slog, and he needs people, the american people, to be on his side, or else it's just not going to happen. the media coverage, like you said, has already dropped off. it's not going to continue unless there's a public outrage. >> absolutely. you know he has the rett cal skill to do it. if the president puts his rett cal skill and weight behind it, at least we can keep the discussion going. we have an important thing we need to do, because jimmy williams, today is not just another day in the park. it's not just another new year's eve. you have somebody that you want to give a special shout-out to. >> my mother turns 70 today. happy birthday, my sweet mother. , in south carolina. you rock. you're the bomb. >> happy new year's eve, mom. >> that's right. >> we always appreciate. >> the world's greatest tax deduction. >> absolutely. you
. >> president obama will have be to willing to spend a long time on this, and all -- probably all of his political capital and just it's going to be a slog. that was what we got from "meet the press" yesterday. it's just clear he knows this is going to be a slog, and he needs people, the american people, to be on his side, or else it's just not going to happen. the media coverage, like you said, has already dropped off. it's not going to continue unless there's a public...
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we have a trillion dollar debt because we spend too much. that was ronald reagan in 198 # 2. president reagan led america out of recession. history has a way of repeating itself. somehow washington never gets the message. >> president obama said he would push for a bill that would actually -- what it would do is include a renewal of the unemployment extension of the bush tax cuts for middle class americans who make less than $250,000 a year. some of us will be watching the ball drop in times square. we may hear the gauntlet drop on capitol hill. live in the newsroom. back to you. >> thank you, derek. >> we are also counting down to 2013. hundreds of thousands of people will bring in the new year in times square. organizers have been planning all year for the ball drop. wendy gi jlet has a look at the preparations. >> more than 2,000 pounds of confetti are in place. >> that's fantastic. >> ready to be thrown out by hand from buildings and times square at midnight. >> i have seen it on tv. looks like so much fun with the concerts and excitement in the air with people. >> it's m
we have a trillion dollar debt because we spend too much. that was ronald reagan in 198 # 2. president reagan led america out of recession. history has a way of repeating itself. somehow washington never gets the message. >> president obama said he would push for a bill that would actually -- what it would do is include a renewal of the unemployment extension of the bush tax cuts for middle class americans who make less than $250,000 a year. some of us will be watching the ball drop in...
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and so this is not going to be simply a matter of me spending political capital. >> president obama on "meet the press" over the weekend. in the wake of the newtown, connecticut school shootings. the president insisted he wants new gun control legislation passed in the next year. he put vice president biden in charge of that task force to make recommendations to him. democratic congressman john yarmouth of kentucky joins us now and he sits on the budget oversight and government reform and ethics committees. good to see you. >> good to be with you. >> what is your thought on what the president said on "meet the press?" >> i think he is absolutely right. what sets this apart, however, is that we do have presidential leadership on this issue. that is something that hasn't been there during past attempts to do something to curb gun violence. i am thrilled about that. i agree with him totally. i've said many times the public has to keep the drum beat going because unless there is a perceived cost to many of the politicians up here not much is likely to happen. we have to make sure the publi
and so this is not going to be simply a matter of me spending political capital. >> president obama on "meet the press" over the weekend. in the wake of the newtown, connecticut school shootings. the president insisted he wants new gun control legislation passed in the next year. he put vice president biden in charge of that task force to make recommendations to him. democratic congressman john yarmouth of kentucky joins us now and he sits on the budget oversight and government...